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PlayAGS Q4 loss widens YOY

PlayAGS Inc. said its fourth-quarter normalized net income was a loss of 53 cents per share, compared with a loss of 18 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $12.3 million, compared with a loss of $2.8 million in the prior-year period.

The normalized profit margin fell to negative 30.8% from negative 15.0% in the year-earlier period.

Total revenue climbed on an annual basis to $40.1 million from $18.7 million, and total operating expenses increased from the prior-year period to $45.2 million from $18.5 million.

Reported net income came to a loss of $8.8 million, or a loss of 38 cents per share, compared to a loss of $9.0 million, or a loss of 58 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of $2.00 per share, compared with a loss of 77 cents per share in the prior year.

Normalized net income was a loss of $40.1 million, compared with a loss of $12.0 million in the prior year.

Full-year total revenue grew 70.9% from the prior-year period to $123.3 million from $72.1 million, and total operating expenses grew 93.3% on an annual basis to $142.3 million from $73.6 million.

The company said reported net income totaled a loss of $38.5 million, or a loss of $1.92 per share, in the full year, compared with a loss of $28.4 million, or a loss of $1.83 per share, the prior year.